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If nothing else, President Xi Jinping is known for his pursuit of order. So how far the Chinese president’s attack on the “disorderly expansion of capital” will go has emerged as a defining question for investors trying to navigate the country’s wave of regulatory crackdowns.

Since first appearing in a Politburo readout in December, the phrase has been employed by government agencies and researchers to explain actions against technology moguls, celebrities and private tutors that fueled a $1.5 trillion stock rout last month. The slogan, like “common prosperity,” is among several Xi-isms feeding concerns that China is tilting away from free markets and back toward more ideologically driven centralized planning.

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